Detailed Single Year Tables

Description of Proposed Provision:
B7.12: Provide an option to split the 8-percent delayed retirement credit (DRC) to offer a lump sum benefit at initial entitlement equal to 2 percent of the 8 percent DRC earned, and a 6 percent DRC on subsequent monthly benefits, effective for workers newly entitled to retired worker benefits in 2020 and later. Widows are held harmless from the lump-sum decision.

&nbsp

Financial Estimates for the OASDI Trust Fund Program

&nbsp

&nbsp

Proposal

&nbsp

Change from Current Law

&nbsp

Expressed as a percentage of current-law taxable payroll

Trust fund ratio as of January 1

Expressed as a percentage ofcurrent-law taxable payroll

Calendaryear

Costrate

Incomerate

Annualbalance

Costrate

Incomerate

Annualbalance

2017

13.41

13.03

-0.38

298

0.00

0.00

0.00

2018

13.49

12.93

-0.56

287

0.00

0.00

0.00

2019

13.70

12.95

-0.75

273

0.00

0.00

0.00

2020

13.90

12.96

-0.94

258

0.05

0.00

-0.05

2021

14.06

12.99

-1.07

244

0.05

0.00

-0.05

2022

14.31

13.03

-1.28

229

0.05

0.00

-0.05

2023

14.59

13.05

-1.54

213

0.05

0.00

-0.05

2024

14.86

13.09

-1.78

197

0.04

0.00

-0.04

2025

15.13

13.10

-2.02

181

0.03

0.00

-0.03

2026

15.39

13.14

-2.26

163

0.02

0.00

-0.02

2027

15.63

13.15

-2.48

146

0.02

0.00

-0.01

2028

15.86

13.17

-2.70

128

0.01

0.00

-0.01

2029

16.07

13.18

-2.89

110

0.01

0.00

-0.01

2030

16.27

13.20

-3.08

92

0.01

0.00

-0.01

2031

16.45

13.21

-3.24

74

0.00

0.00

-0.00

2032

16.61

13.22

-3.39

55

0.00

0.00

-0.00

2033

16.74

13.23

-3.51

35

-0.00

-0.00

0.00

2034

16.84

13.23

-3.61

15

-0.00

-0.00

0.00

2035

16.92

13.24

-3.68

----

-0.01

-0.00

0.01

2036

16.98

13.24

-3.74

----

-0.01

-0.00

0.01

2037

17.01

13.25

-3.76

----

-0.01

-0.00

0.01

2038

17.01

13.25

-3.76

----

-0.01

-0.00

0.01

2039

16.99

13.25

-3.74

----

-0.01

-0.00

0.01

2040

16.95

13.25

-3.71

----

-0.01

-0.00

0.01

2041

16.90

13.25

-3.66

----

-0.01

-0.00

0.01

2042

16.85

13.24

-3.61

----

-0.01

-0.00

0.01

2043

16.80

13.24

-3.56

----

-0.01

-0.00

0.01

2044

16.75

13.24

-3.51

----

-0.01

-0.00

0.01

2045

16.71

13.24

-3.47

----

-0.01

-0.00

0.01

2046

16.67

13.23

-3.44

----

-0.01

-0.00

0.01

2047

16.64

13.23

-3.41

----

-0.01

-0.00

0.01

2048

16.61

13.23

-3.38

----

-0.01

-0.00

0.01

2049

16.58

13.23

-3.35

----

-0.00

-0.00

0.00

2050

16.56

13.23

-3.33

----

-0.00

-0.00

0.00

2051

16.55

13.23

-3.32

----

-0.00

-0.00

0.00

2052

16.55

13.23

-3.32

----

-0.00

-0.00

0.00

2053

16.57

13.23

-3.33

----

-0.00

-0.00

0.00

2054

16.59

13.23

-3.35

----

-0.00

-0.00

0.00

2055

16.62

13.24

-3.38

----

-0.00

-0.00

0.00

2056

16.65

13.24

-3.41

----

-0.00

-0.00

0.00

2057

16.70

13.24

-3.45

----

-0.00

-0.00

0.00

2058

16.74

13.25

-3.49

----

-0.00

-0.00

0.00

2059

16.78

13.25

-3.53

----

0.00

0.00

-0.00

2060

16.83

13.25

-3.58

----

0.00

0.00

-0.00

2061

16.87

13.26

-3.62

----

-0.00

-0.00

0.00

2062

16.92

13.26

-3.66

----

-0.00

-0.00

0.00

2063

16.97

13.26

-3.71

----

-0.00

-0.00

0.00

2064

17.02

13.27

-3.75

----

-0.00

-0.00

0.00

2065

17.06

13.27

-3.80

----

-0.00

-0.00

0.00

2066

17.12

13.27

-3.84

----

-0.00

-0.00

0.00

2067

17.17

13.27

-3.89

----

-0.00

-0.00

0.00

2068

17.22

13.28

-3.94

----

-0.00

-0.00

0.00

2069

17.27

13.28

-3.99

----

-0.00

-0.00

0.00

2070

17.32

13.28

-4.04

----

-0.00

-0.00

0.00

2071

17.37

13.29

-4.08

----

-0.00

-0.00

0.00

2072

17.41

13.29

-4.12

----

-0.00

-0.00

0.00

2073

17.45

13.29

-4.15

----

-0.00

-0.00

0.00

2074

17.48

13.29

-4.18

----

-0.00

-0.00

0.00

2075

17.50

13.30

-4.21

----

-0.00

-0.00

0.00

2076

17.52

13.30

-4.22

----

-0.00

-0.00

0.00

2077

17.52

13.30

-4.22

----

-0.00

-0.00

0.00

2078

17.52

13.30

-4.22

----

-0.00

-0.00

0.00

2079

17.51

13.30

-4.22

----

-0.00

-0.00

0.00

2080

17.51

13.30

-4.21

----

-0.00

-0.00

0.00

2081

17.50

13.30

-4.20

----

-0.00

-0.00

0.00

2082

17.50

13.30

-4.20

----

-0.00

-0.00

0.00

2083

17.51

13.30

-4.21

----

-0.00

-0.00

0.00

2084

17.52

13.30

-4.23

----

-0.00

-0.00

0.00

2085

17.55

13.30

-4.25

----

-0.00

-0.00

0.00

2086

17.58

13.30

-4.28

----

-0.00

-0.00

0.00

2087

17.61

13.30

-4.31

----

-0.00

-0.00

0.00

2088

17.65

13.31

-4.35

----

-0.00

-0.00

0.00

2089

17.70

13.31

-4.39

----

-0.00

-0.00

0.00

2090

17.75

13.31

-4.44

----

-0.00

-0.00

0.00

2091

17.79

13.31

-4.48

----

-0.00

-0.00

0.00

2092

17.84

13.32

-4.52

----

-0.00

-0.00

0.00

&nbsp

Summarized Estimates

&nbsp

&nbsp

Proposal

&nbsp

Change from Current Law

Years

Costrate

Incomerate

Actuarialbalance

Year of reserve depletion1

Costrate

Incomerate

Actuarialbalance

Based on Intermediate Assumptions of the 2017 Trustees Report.

2017-2091

16.67%

13.84%

-2.83%

2034

0.00%

0.00%

-0.00%

&nbsp

1 Under current law, the year of Trust
Fund reserve depletion is 2034.